The Demand for Social Approval and Status as a Motivation to Give
The aim of this paper is to explain gift giving as due to a demand for social approval and status. In a simple framework we are able to account for a number of stylized facts. These are that gift giving is often reciprocal, that gifts tend to be inadequate, and that gift giving is sometimes reduced after a monetary compensation is offered. The implication for the interaction between gift giving and the market institution is that implementing price incentives in a nonmarket environment can be welfare-decreasing.
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Volume (Year): 158 (2002)
Issue (Month): 3 (September)
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- Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
- Arnott, Richard & Stiglitz, Joseph E, 1991. "Moral Hazard and Nonmarket Institutions: Dysfunctional Crowding Out or Peer Monitoring?," American Economic Review, American Economic Association, vol. 81(1), pages 179-190, March.
- Goeree, Jacob K. & Holt, Charles A. & Laury, Susan K., 2002. "Private costs and public benefits: unraveling the effects of altruism and noisy behavior," Journal of Public Economics, Elsevier, vol. 83(2), pages 255-276, February.
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